#small-business
Small Business
Financial management strategies and tools for small business owners
Indiana Repealed Its Youth Employment System: What HB 1302 Means for Employers Who Hire Teens
On July 1, 2026, Indiana's HB 1302 decommissioned the Youth Employment System (YES) database, ending registration and self-reporting for employers with five or more minor employees — but hour caps for 14- and 15-year-olds, hazardous occupation bans, federal FLSA rules, and escalating state penalties all remain in force, making internal recordkeeping the employer's sole audit trail.
Inventory Turnover Ratio Explained: Formula, Industry Benchmarks, and How to Improve It
Inventory turnover ratio = COGS ÷ average inventory, and it shows how many times a business sells through its stock each year. This guide covers the formula, converting turnover to days sales of inventory, industry benchmarks from 2–4 turns (industrial parts) to 10–20+ (grocery), and why slow-moving stock costs 20–30% of its value annually to hold.
How to Get the IRS to Answer You in Writing: Private Letter Rulings and Determination Letters for Small Businesses
Oral advice from the IRS is not binding — a private letter ruling is. Under Revenue Procedure 2026-1, 9100 relief for a missed tax election generally costs about $14,500, with reduced tiers near $3,450 and $9,775 for smaller organizations, and the IRS must make contact within 21 days of a complete request. Here's when a ruling is worth the fee, what the request must contain, and the no-fee alternatives — Form SS-8, Form 3115, and Rev. Proc. 2013-30 — that cover most common cases.
Is B Corp Certification Worth It? A 2026 Cost-Benefit Guide for Small Businesses
B Corp certification costs small businesses $2,100 a year (under $5M revenue) plus roughly 12 months of assessment, legal restructuring, and audit work. Here's the 2026 fee schedule, what B Lab's V2 standards changed, and which businesses actually see a revenue payoff.
Letter of Intent for a Small Business Sale: What's Binding, What's Negotiable, and What Kills Deals
Most letters of intent are labeled non-binding, but exclusivity, confidentiality, and break-up-fee clauses inside them are typically enforceable. This guide covers LOI terms in sub-$10M business sales — asset vs. stock structure, 30–90 day exclusivity windows, working capital true-ups, price allocation, and the mistakes that cost sellers deals.
Louisiana's Act 751 Bans Debit Card Surcharges — Which Were Already Illegal. Here's Why Retailers Should Still Worry
Louisiana's Act 751 takes effect August 1, 2026, adding state enforcement — cardholder notice letters, a 30-day refund cure window, and civil penalties up to $500 per violation — to a debit card surcharge ban that federal law and card network rules already imposed nationwide. Here's what retailers should check in their POS systems, and how to book any refunds cleanly.
Loyalty Points Are a Liability, Not Revenue: How to Book Breakage and Deferred Revenue Under ASC 606
Under ASC 606, loyalty points are a deferred revenue liability until customers redeem them or you can prove breakage — Starbucks booked $200.4M in breakage revenue in FY2025 this way. This guide covers the journal entries for issuance and redemption, the 12-month data requirement for breakage estimates, and the rollforward schedule that keeps a rewards program auditable.
Nacha Raises the Same Day ACH Limit to $10 Million: What It Means for Small Businesses
Nacha will raise the Same Day ACH per-payment limit from $1 million to $10 million on September 17, 2027, matching RTP and FedNow. Here's how the change affects small-business payments, why business accounts lack Regulation E fraud protections, and five controls to put in place before the new ceiling arrives.
Ninth Circuit Blocks FinCEN's $200 Cash-Reporting Order: What the Border GTO Ruling Means for Money Services Businesses
On July 14, 2026, the Ninth Circuit upheld an injunction blocking FinCEN's border Geographic Targeting Order, which required money services businesses in ~30 ZIP codes to file Currency Transaction Reports for cash transactions as low as $200 — 50 times below the normal $10,000 threshold. The court found FinCEN likely violated the APA by skipping notice-and-comment rulemaking and ignoring compliance costs.
NIST CSWP 50: The First Federal Cybersecurity Guide Written for Businesses of One
NIST's draft CSWP 50, released April 2026, is the first federal cybersecurity guidance written explicitly for non-employer firms — the 28+ million U.S. businesses with zero employees. Here's what changed from the 2009 guidance, how the CSF 2.0 six functions translate to a solo operation, and a 30-minute checklist to act on today.
North Carolina's HB 372 Home-Based Business Fairness Act: What Home Entrepreneurs Need to Know
North Carolina's HB 372, signed July 7, 2026 as Session Law 2026-51, bars cities from requiring permits, licenses, or rezoning for "no-impact" home-based businesses. Here's who qualifies, what cities can still regulate, and how the change affects your bookkeeping.
The 1099 Threshold Is Now $2,000: What OBBBA Changes for Small Businesses in 2026
OBBBA raises the federal 1099-NEC and 1099-MISC filing threshold from $600 to $2,000 for payments made in 2026, with annual inflation indexing starting in 2027. The income stays taxable either way, some states still require reporting at $600, and per-contractor totals — not per-invoice amounts — determine whether you file.